HOUSE BILL NO. 4050

January 31, 2023, Introduced by Rep. Outman and referred to the Committee on Labor.

A bill to amend 1936 (Ex Sess) PA 1, entitled

"Michigan employment security act,"

(MCL 421.1 to 421.75) by adding section 10b.

the people of the state of michigan enact:

Sec. 10b. (1) The unemployment agency shall post and keep posted on its public website the amount of money in the unemployment compensation fund. The unemployment agency shall update the amount each month to reflect the then current amount.

(2) The unemployment agency shall notify the state budget director and the senate and house of representatives standing committees on appropriations if either of the following occurs:

(a) The amount of money in the unemployment compensation fund changes from being greater than or equal to $2,500,000,000.00 to being less than $2,500,000,000.00.

(b) The amount of money in the unemployment compensation fund changes from being greater than or equal to $500,000,000.00 to being less than $500,000,000.00.